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200411733
<br />All insurance policies required by fender and renewals of such policies shall be subject to finder's right
<br />to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
<br />and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If
<br />Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If
<br />Borrower obtains any form of insurance coverage, not otherwise required by Leader, for damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
<br />mortgagee and /or as an additional loss payee.
<br />in the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. lender may
<br />make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in
<br />writing, any insurance proceeds, whether or not the underlying insurance was required, by Lender, shall be
<br />applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's
<br />security is not lessened. During such repair and restoration period, Lender shall have the right to hold such
<br />insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been
<br />completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may
<br />disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the
<br />work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on
<br />such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such
<br />proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the
<br />insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically
<br />feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by
<br />this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance
<br />proceeds shall be applied in the order provided for in Section 2.
<br />If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and
<br />related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier
<br />has offered to settle a claim, then Lender may negotiate and settle the claim. The 30 -day period will begin
<br />when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise,
<br />Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed
<br />the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other
<br />than the right w any refund of unearned premiums paid by Borrower) under all insurance policies covering the
<br />Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance
<br />proceeds either to repair or restore the Property or to pay amounts unpaid under the Now or this Security
<br />Instrument, whether or act then due.
<br />6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence
<br />within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
<br />Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees
<br />in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which
<br />are beyond Borrower's control.
<br />7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy,
<br />damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. whether or
<br />not Borrower is residing in the Properly, Borrower shall maintain the Property in order to prevent the Property
<br />from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that
<br />repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
<br />avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with
<br />damage w, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property
<br />only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and
<br />restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or
<br />condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of
<br />Borrower's obligation for the completion of such repair or restoration.
<br />Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable
<br />cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice
<br />at the time of or prior to such an interior inspection specifying such reasonable reuse.
<br />N6BRASKASingle Family -Femme MaelFreddie Mac UN60AM INSTRUMENT Form 302E 1 /01 (page 6 of 13 pages)
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